Internal auditing is a function within the University that provides independent, objective assurance and consulting services designed to add value and improve operations. The internal audit activity helps the University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
- Implementation of internal controls is a prime responsibility of University Administrators and Supervisors. This includes Senior Management, Deans and Department heads.
- All employees play some role in the control environment
- Other groups such as the Board of Governors play an important oversight role
- Internal Audit contributes to the effectiveness of the controls, but is not responsible to establish or maintain them
- Make objective assessments of operations
- Share best practices
- Foster cooperation and communication between and within campus departments
- Suggestions for ways to reduce costs, and/or improve profits
- Consulting, assurance, and facilitation services
- Ensure accuracy of financial records
- Evaluate internal control in your respective area
- Evaluate costs and benefits
- Provide recommendations and follow-up